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ECB’s Rehn: Expectations for two more rate cuts in 2024 are ‘reasonable’
European Central Bank (ECB) policymaker Olli Rehn said on Wednesday, the market expectations that the ECB will reduce interest rates twice more this year to as low as 2.25% in 2025 are ‘reasonable’, per Bloomberg.
The Finnish central bank chief also said that “while officials must ensure inflation returns to 2%, they shouldn’t overly dampen economic activity.”
Market reaction
The above comments maintained the bearish pressure on the EUR/USD pair, as it flirts with intraday lows near 1.0710, at the time of writing.
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